Tax Reform: It’s Not About the Rich, It’s About the Successful

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How will Koch brothers getting 100's of Millions of $ in tax breaks benefit the economy? So that they can spend more in Superpacs ? Even if this so-called uber rich people start a corporation, it will be through debt from Banks/Venture Capital or equity sale & not through the extra savings from a personal tax cut etc.

Do people seriously believe people with 100's of Millions really getting extra money will create jobs? If anything these people have much lower consumption/spending per 100 $ of income (Marginal Propensity to Consume - MPC in Economics) than a low income guy. And Consumption is the key driver of GDP (biggest component), creates demand, jobs, enlarges tax revenue etc!

For economic growth, is is better for 10,000 people to have 1000 $ more money/income than 100 people to have 1M $ more. Isn't the deficit a concern now?

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How will Koch brothers getting 100's of Millions of $ in tax breaks benefit the economy? So that they can spend more in Superpacs ? Even if this so-called uber rich people start a corporation, it will be through debt from Banks/Venture Capital or equity sale & not through the extra savings from a personal tax cut etc.

Do people seriously believe people with 100's of Millions really getting extra money will create jobs? If anything these people have much lower consumption/spending per 100 $ of income (Marginal Propensity to Consume - MPC in Economics) than a low income guy. And Consumption is the key driver of GDP (biggest component), creates demand, jobs, enlarges tax revenue etc!

For economic growth, is is better for 10,000 people to have 1000 $ more money/income than 100 people to have 1M $ more. Isn't the deficit a concern now?

Yes but lets be clear here, you guys don't just want to overtax the Koch brothers, you want to overtax those making $400K, $300K... probably $100K... even if they live in a high cost of living area.

I don't argue about what other people think or Bernie's plans. From an economic perspective, it makes sense to increase taxes on people making above 200/250K a year. 400K is not middle class by an stretch - It is for wealthy folks (you can't compare to Kochs & say X is not wealthy) & if you have to raise revenue then you have to increase taxes on some of these people. Now Bernie or Hillary may not even raise taxes much on these people & someone earning 250-500K may actually get more benefits than the increase in taxes.

And I don't know want to argue about this - Because you are of the opinion "My taxes shouldn't rise" so people above 500K can pay more & people below 50K or 80K shouldn't get more welfare because "My Taxes may rise" again.  Your views are shaped entirely by what happens about your taxes. Tomorrow if are earning 900K a year, you may say it shouldn't increase for anyone earning till 1M etc.

I am talking in general from an overall economical perspective & not an individual's taxes. When you have a view about the economy, it shouldn't be affected by your personal standing.

[Shadows]

How will Koch brothers getting 100's of Millions of $ in tax breaks benefit the economy? So that they can spend more in Superpacs ? Even if this so-called uber rich people start a corporation, it will be through debt from Banks/Venture Capital or equity sale & not through the extra savings from a personal tax cut etc.

Do people seriously believe people with 100's of Millions really getting extra money will create jobs? If anything these people have much lower consumption/spending per 100 $ of income (Marginal Propensity to Consume - MPC in Economics) than a low income guy. And Consumption is the key driver of GDP (biggest component), creates demand, jobs, enlarges tax revenue etc!

For economic growth, is is better for 10,000 people to have 1000 $ more money/income than 100 people to have 1M $ more. Isn't the deficit a concern now?

Yes but lets be clear here, you guys don't just want to overtax the Koch brothers, you want to overtax those making $400K, $300K... probably $100K... even if they live in a high cost of living area.

I don't argue about what other people think or Bernie's plans. From an economic perspective, it makes sense to increase taxes on people making above 200/250K a year. 400K is not middle class by an stretch - It is for wealthy folks (you can't compare to Kochs & say X is not wealthy) & if you have to raise revenue then you have to increase taxes on some of these people. Now Bernie or Hillary may not even raise taxes much on these people & someone earning 250-500K may actually get more benefits than the increase in taxes.

And I don't know want to argue about this - Because you are of the opinion "My taxes shouldn't rise" so people above 500K can pay more & people below 50K or 80K shouldn't get more welfare because "My Taxes may rise" again.  Your views are shaped entirely by what happens about your taxes. Tomorrow if are earning 900K a year, you may say it shouldn't increase for anyone earning till 1M etc.

I am talking in general from an overall economical perspective & not an individual's taxes. When you have a view about the economy, it shouldn't be affected by your personal standing.

And you think many of those advocating for socialism do so without their personal standing being a factor?  I'll note that many of the same people advocating socialism have noted that they make 50K or less a year, which you pointed to as a possible welfare level.

FDR was a very rich person who implemented the New Deal & increased taxes massively. Many Welfare left-leaning economics are pretty rich themselves. I earn pretty good money but my opinions are largely shaped by what I feel is good economics (Who honestly likes paying more in taxes?). Most of my friends work in Wall Street/Some big company & I am saving to retire by the time I am 40 odd.
For Example - My support for Tuition Free College has more to do with K-12 not being a good enough education anymore & my own personal cost of attending an elite institution (Why would I want other people to bear such high costs which I had to?). And I saw how some of my friends who were entrepreneurs at a young age, couldn't focus on the business as they were trying to pay back their high student loans & how everyone is blindly chasing the best paying job. I have years back supported entitlement reform & lower taxes. It is not always the case that people earning less than 50K want to leech off people earning a lot of money !

Anyways can we please not make this thread again of You vs others & stick to the topic - There is no reason to have another fight! People can have differences of opinion !